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    PAVE

    U.S. Infrastructure Development ETF

    Invest in PAVE

    Reasons to Consider PAVE

    Compelling Need

    The American Society of Civil Engineers assigned a letter grade of C to the state of U.S. infrastructure in its 2025 report card, highlighting the need for investment.1

    Multiple Long-Term Catalysts

    America is committed to improving its aging infrastructure. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS and Science Act appropriated nearly $1tn to fund critical infrastructure projects.2

    Unconstrained Approach

    As the economy evolves, so do infrastructure needs. PAVE seeks to capture this trend by investing in companies that are part of the infrastructure theme, regardless of sector or industry.

    1American Society of Engineers, Mar 20252Politico, 2024

    Key Information As of 07/21/26

    Inception Date 03/06/17
    Total Expense Ratio 0.47%
    Net Assets $13.88 billion
    NAV $56.20

    ETF Summary

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in the United States, including those involved in the production of raw materials, heavy equipment, engineering, and construction.

    ETF Objective

    The Global X U.S. Infrastructure Development ETF (PAVE) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx U.S. Infrastructure Development Index.

    Trading Details As of 07/21/26

    Ticker PAVE
    B3 Trading Code BPVE39
    Bloomberg Index Ticker IPAVE
    CUSIP 37954Y673
    ISIN US37954Y6730
    Primary Exchange Cboe BZX
    Shares Outstanding 247,000,000
    Number of Holdings 99
    30-Day Median Bid-Ask Spread 0.02%

    Distributions As of 07/21/26

    30-Day SEC Yield 0.45%
    Distribution Frequency Semi Annually
     Distribution History

    ETF Prices As of 07/21/26

    NAV $56.20 Daily Change $0.52 0.93%
    Market Price $56.20 Daily Change $0.50 0.90%

    Performance History

    Premium Discount Chart
    Cumulative Returns (as of 06/30/26)
    		1 Month 6 Months YTD 12 Months 24 Months Since Inception Inception Date
    Return PAVE 4.77% 24.40% 23.47% 36.30% 65.57% 317.61% 03/06/17
    Returns (as of 07/21/26)
    		Return PAVE Return Index
    Since Inception 298.60% 318.28%
    12 Months 27.32% 27.68%
    24 Months 46.45% 47.43%
    Last 60 Trading Days -0.08% -0.10%
    Last 75 Trading Days 11.61% 11.66%
    Monthly Returns (through 07/21/26)
    		Return PAVE Return Index
    Jul 2026 -4.55% -4.65%
    Jun 2026 4.75% 4.79%
    May 2026 -0.91% -0.89%
    Apr 2026 12.65% 12.75%
    Mar 2026 -7.74% -7.75%
    Feb 2026 8.58% 8.63%
    Jan 2026 6.20% 6.22%
    Dec 2025 0.94% 0.96%
    Nov 2025 0.56% 0.58%
    Oct 2025 1.28% 1.33%
    Sep 2025 2.48% 2.54%
    Aug 2025 1.77% 1.81%
    Jul 2025 4.84% 4.88%
    Jun 2025 5.25% 5.27%
    May 2025 8.11% 8.16%
    Apr 2025 1.84% 1.85%
    Mar 2025 -6.20% -6.17%
    Feb 2025 -5.01% -4.97%
    Jan 2025 4.64% 4.70%
    Dec 2024 -11.26% -11.22%
    Nov 2024 11.12% 11.19%
    Oct 2024 -0.05% -0.04%
    Sep 2024 4.42% 4.46%
    Aug 2024 -1.34% -1.35%
    Jul 2024 7.91% 8.00%

    Total returns take into account management, administration and fees and other costs automatically deducted from the fund's assets. Before investing, you may read the prospectus in the “FEES AND EXPENSES” section for more details.

    NAV & Index Chart

    Top Holdings As of 07/21/26

    Full Holdings (.csv)
    Net Assets (%) Ticker Name Country SEDOL Market Price ($) Shares Held Market Value ($)
    3.87 CSX CSX CORP United States 2160753 49.89 10,729,700 535,304,733.00
    3.78 PWR QUANTA SERVICES INC United States 2150204 639.20 818,970 523,485,624.00
    3.56 HWM HOWMET AEROSPACE INC United States BKLJ8V2 279.00 1,763,513 492,020,127.00
    3.51 UNP UNION PACIFIC CORP United States 2914734 293.13 1,659,307 486,392,660.91
    3.35 ETN EATON CORP PLC United States B8KQN82 402.95 1,149,260 463,094,317.00
    3.34 TT TRANE TECHNOLOGIES PLC United States BK9ZQ96 469.89 984,048 462,394,314.72
    3.18 NSC NORFOLK SOUTHERN CORP United States 2641894 331.30 1,328,025 439,974,682.50
    3.12 DE DEERE & CO United States 2261203 586.88 734,907 431,302,220.16
    3.03 ROK ROCKWELL AUTOMATION INC United States 2754060 464.82 902,607 419,549,785.74
    2.94 URI UNITED RENTALS INC United States 2134781 1,013.54 401,594 407,031,582.76
    2.93 SRE SEMPRA United States 2138158 90.59 4,472,365 405,151,545.35
    2.91 NUE NUCOR CORP United States 2651086 233.20 1,728,708 403,134,705.60
    2.83 PH PARKER HANNIFIN CORP United States 2671501 959.58 408,700 392,180,346.00
    2.79 FAST FASTENAL CO United States 2332262 45.01 8,573,187 385,879,146.87
    2.57 EMR EMERSON ELECTRIC CO United States 2313405 139.26 2,554,932 355,799,830.32
    2.22 CRH CRH PLC United States B01ZKD6 99.74 3,083,853 307,583,498.22
    2.00 VMC VULCAN MATERIALS CO United States 2931205 276.75 998,097 276,223,344.75
    1.86 STLD STEEL DYNAMICS INC United States 2849472 233.52 1,103,068 257,588,439.36
    1.86 EME EMCOR GROUP INC United States 2474164 760.27 338,122 257,064,012.94
    1.80 MLM MARTIN MARIETTA MATERIALS United States 2572079 547.33 455,569 249,346,580.77
    1.60 CRS CARPENTER TECHNOLOGY United States 2177504 588.99 376,329 221,654,017.71
    1.51 MTZ MASTEC INC United States 2155306 351.40 595,996 209,432,994.40
    1.47 AMRZ AMRIZE LTD United States BV5F675 48.69 4,175,154 203,288,248.26
    1.46 ATI ATI INC United States 2526117 197.21 1,026,227 202,382,226.67
    1.39 HUBB HUBBELL INC United States BDFG6S3 479.93 401,453 192,669,338.29
    1.33 WWD WOODWARD INC United States 2948089 406.87 452,251 184,007,364.37
    1.16 STRL STERLING INFRASTRUCTURE INC United States 2632876 694.40 232,071 161,150,102.40
    1.09 RS RELIANCE INC United States 2729068 383.42 394,956 151,434,029.52
    1.05 FTV FORTIVE CORP United States BYT3MK1 60.67 2,399,124 145,554,853.08
    1.01 RBC RBC BEARINGS INC United States B0GLYB5 585.35 238,756 139,755,824.60
    0.90 IEX IDEX CORP United States 2456612 221.19 565,376 125,055,517.44
    0.87 WCC WESCO INTERNATIONAL INC United States 2416973 329.16 367,447 120,948,854.52
    0.84 J JACOBS SOLUTIONS INC United States BNGC0D3 129.64 892,002 115,639,139.28
    0.77 RRX REGAL REXNORD CORP United States 2730082 213.31 501,505 106,976,031.55
    0.76 MLI MUELLER INDUSTRIES INC United States 2609717 62.30 1,677,100 104,483,330.00
    0.75 LECO LINCOLN ELECTRIC HOLDINGS United States 2516851 249.02 415,633 103,500,929.66
    0.74 CSL CARLISLE COS INC United States 2176318 322.61 315,617 101,821,200.37
    0.71 RPM RPM INTERNATIONAL INC United States 2756174 101.53 967,448 98,224,995.44
    0.68 CR CRANE CO United States BNYD4F8 217.38 435,036 94,568,125.68
    0.67 TRMB TRIMBLE INC United States 2903958 51.85 1,794,322 93,035,595.70
    0.67 DY DYCOM INDUSTRIES INC United States 2289841 423.23 218,711 92,565,056.53
    0.66 GGG GRACO INC United States 2380443 73.13 1,252,322 91,582,307.86
    0.63 AA ALCOA CORP United States BYNF418 44.35 1,956,127 86,754,232.45
    0.59 SPXC SPX TECHNOLOGIES INC United States BQ1L7V3 217.02 376,457 81,698,698.14
    0.59 WMS ADVANCED DRAINAGE SYSTEMS IN United States BP7RS59 138.85 587,387 81,558,684.95
    0.55 PNR PENTAIR PLC United States BLS09M3 61.48 1,236,090 75,994,813.20
    0.55 AYI ACUITY INC United States 2818461 326.07 231,642 75,531,506.94
    0.54 VMI VALMONT INDUSTRIES United States 2926825 505.35 148,805 75,198,606.75
    0.54 NWPX NWPX INFRASTRUCTURE INC United States 2035925 135.41 550,589 74,555,256.49
    0.53 WLK WESTLAKE CORPORATION United States B01ZP20 76.22 967,439 73,738,200.58
    0.50 ACM AECOM United States B1VZ431 68.94 995,840 68,653,209.60
    0.49 POWL POWELL INDUSTRIES INC United States 2697422 244.39 275,201 67,256,372.39
    0.48 MTRN MATERION CORP United States 2149622 254.83 258,072 65,764,487.76
    0.46 AGX ARGAN INC United States 2804501 605.52 104,811 63,465,156.72
    0.44 MYRG MYR GROUP INC/DELAWARE United States B3CLS18 400.10 153,537 61,430,153.70
    0.43 TTEK TETRA TECH INC United States 2883890 30.51 1,969,717 60,096,065.67
    0.43 CTOS CUSTOM TRUCK ONE SOURCE INC United States BL66YS4 10.31 5,799,233 59,790,092.23
    0.43 ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION United States BMV1ZD3 47.27 1,264,118 59,754,857.86
    0.42 BLDR BUILDERS FIRSTSOURCE INC United States B0BV2M7 69.74 835,268 58,251,590.32
    0.41 LGN LEGENCE CORP-CL A United States BT6CC17 72.55 788,960 57,239,048.00
    0.41 GRC GORMAN-RUPP CO United States 2379281 80.30 713,448 57,289,874.40
    0.41 CMC COMMERCIAL METALS CO United States 2213260 67.70 837,746 56,715,404.20
    0.41 ECG EVERUS CONSTRUCTION GROUP United States BSVLTM2 136.05 417,013 56,734,618.65
    0.39 ACA ARCOSA INC United States BGPZ5W8 144.65 370,466 53,587,906.90
    0.37 TRN TRINITY INDUSTRIES INC United States 2904627 36.92 1,392,523 51,411,949.16
    0.37 PLPC PREFORMED LINE PRODUCTS CO United States 2798466 333.51 153,316 51,132,419.16
    0.37 DXPE DXP ENTERPRISES INC United States 2276627 174.08 290,626 50,592,174.08
    0.36 WNC WABASH NATIONAL CORP United States 2932048 13.51 3,709,298 50,112,615.98
    0.36 EXP EAGLE MATERIALS INC United States 2191399 205.01 242,184 49,650,141.84
    0.32 TITN TITAN MACHINERY INC United States B29H3T5 19.31 2,297,494 44,364,609.14
    0.31 TPC TUTOR PERINI CORP United States 2681760 86.78 499,967 43,387,136.26
    0.31 ASTE ASTEC INDUSTRIES INC United States 2060370 55.00 771,075 42,409,125.00
    0.30 MTX MINERALS TECHNOLOGIES INC United States 2595612 73.73 562,158 41,447,909.34
    0.30 GVA GRANITE CONSTRUCTION INC United States 2381189 124.78 329,738 41,144,707.64
    0.29 TEX TEREX CORP United States 2884224 64.77 623,452 40,380,986.04
    0.29 KNF KNIFE RIVER CORP United States BPLL4V5 79.41 505,511 40,142,628.51
    0.29 CLF CLEVELAND-CLIFFS INC United States BYVZ186 9.25 4,303,364 39,806,117.00
    0.28 MDU MDU RESOURCES GROUP INC United States 2547323 21.00 1,854,087 38,935,827.00
    0.28 ATKR ATKORE INC United States BDHF495 74.54 522,267 38,929,782.18
    0.28 RYZ RYERSON HOLDING CORP United States B3TPPZ6 29.87 1,278,407 38,186,017.09
    0.28 TTAM TITAN AMERICA SA United States BNM4XQ7 16.89 2,250,366 38,008,681.74
    0.27 CTRI CENTURI HOLDINGS INC United States BMDPVF7 28.00 1,353,690 37,903,320.00
    0.27 GBX GREENBRIER COMPANIES INC United States 2387530 50.06 754,358 37,763,161.48
    0.27 MTUS METALLUS INC United States BNBPMX1 19.97 1,886,566 37,674,723.02
    0.27 DNOW DNOW INC United States BMH0MV1 14.25 2,625,948 37,419,759.00
    0.27 ROAD CONSTRUCTION PARTNERS INC-A United States BDT5M66 103.21 362,153 37,377,811.13
    0.27 HRI HERC HOLDINGS INC United States BZBZ020 147.94 251,318 37,179,984.92
    0.27 LPX LOUISIANA-PACIFIC CORP United States 2535243 70.25 526,082 36,957,260.50
    0.26 PRIM PRIMORIS SERVICES CORP United States B1GC200 87.80 408,104 35,831,531.20
    0.26 MWA MUELLER WATER PRODUCTS INC-A United States B15RZR4 24.83 1,430,359 35,515,813.97
    0.26 CENX CENTURY ALUMINUM COMPANY United States 2186254 44.80 794,858 35,609,638.40
    0.26 IIIN INSTEEL INDUSTRIES INC United States 2325875 31.43 1,127,132 35,425,758.76
    0.25 CSW CSW INDUSTRIALS INC United States BYQD1J6 277.03 126,053 34,920,462.59
    0.24 ROCK GIBRALTAR INDUSTRIES INC United States 2369226 43.59 750,587 32,718,087.33
    0.24 BMI BADGER METER INC United States 2069128 145.87 223,037 32,534,407.19
    0.23 USLM UNITED STATES LIME & MINERAL United States 2724115 107.07 293,142 31,386,713.94
    0.22 EXPO EXPONENT INC United States 2330318 60.66 507,491 30,784,404.06
    0.19 CMCO COLUMBUS MCKINNON CORP/NY United States 2211071 14.79 1,805,794 26,707,693.26
    0.19 CALX CALIX INC United States B3S4L67 37.47 688,000 25,779,360.00
    0.01 OTHER PAYABLE & RECEIVABLES United States 1.00 762,879 762,878.93
    0.00 CASH United States 1.00 113,676 113,676.12
    Holdings are subject to change. "Cash" denotes U.S. dollars.

    Sector Breakdown As of 06/30/26

    Sector Weight (%)
    Industrials 73.3
    Materials 22.2
    Utilities 3.3
    Information Technology 1.1
    Other/Cash 0.1

    Source: AltaVista Research, LLC

    ETF Characteristics As of 07/21/26

    Return on Equity 15.10%
    Weighted Avg. Market Cap 58,103 M
    2025 2026
    Price-to-earnings 30.54 25.32
    Price-to-book value 4.03 3.62

    Source: AltaVista Research, LLC

    ETF Risk Stats As of 06/30/26

    Versus Beta
    S&P 500 1.14
    MSCI EAFE 0.92
    MSCI Emg. Mkts 0.57
    Standard Deviation 20.70%

    Source: AltaVista Research, LLC

    ETF Documents

    TERMS OF USE

    Global X Brasil Gestora de Investimentos Ltda. (“Global X Brasil”) is an asset manager authorized by the Brazilian Securities and Exchange Commission (“CVM”), constituted in the form of CVM Resolution No. 21/2021. Investing involves risks. The material on this site is for informational purposes only and does not constitute investment advice, recommendation, offer or solicitation to buy or sell any securities, funds, or strategies to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be illegal under the securities laws of such jurisdiction. Opinions expressed here are subject to change without notice. Reliance upon the information contained in this material is at the sole discretion of the reader. No securities regulator has confirmed the accuracy of any information contained herein. Access to the information on this site or the use of the services or information provided herein is prohibited by any person or entity in any jurisdiction or country where such distribution or use is contrary to local law, rules, or regulation. Investment in index funds (ETFs) involves risks, including detachment from the benchmark index and related to the liquidity of shares in the secondary market. Investment funds managed by Global X Brasil use strategies that can result in significant equity losses for their quota holders. Global X Brasil, its partners and employees are exempt of responsibility for any damages resulting directly or indirectly from the use of the information contained on this website.

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